WGEA Pay Gap Results for IMB Bank

IMB Bank General Manager, People & Culture, Rachel Heald, said, “Gender equity is a key priority for IMB Bank. Our average total remuneration gender pay gap has reduced this year to 28.8 per cent, down from 34.5 per cent in the prior year. This brings us below 30 per cent, a target we had set for 2027.

“While this is meaningful progress, a gap of 28.8 per cent remains material reflecting the challenges posed by the composition of our workforce, and we are committed to continuing our efforts to narrow it.

“This year’s result reflects focused work across the organisation. In the 2024-25 year, 59 per cent of people appointed to manager roles were women. At a Key Management Personnel level, excluding the CEO, our executive team is now evenly split between men and women.

“WGEA’s headline data is helpful in encouraging accountability and discussion, however a gender pay gap measures differences in average earnings at a total business level and needs to be considered within a broader context.

“Our gap reflects a higher representation of women in frontline, part-time customer service roles. As a major employer in the Illawarra region, we provide flexible working arrangements that support work-life balance for many of our people, and meaningful career opportunities in the region.

“We are continuing to build more diverse teams across all areas of our business and to strengthen career development pathways for women.

“A gender pay gap does not mean people are being paid differently for the same work. Every employer has a legal obligation to provide equal pay for equal work, and we regularly monitor our pay practices to ensure we meet this requirement.”